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Finance Committee Report to Business Meeting of 5-16-10

Finance Committee Report to Business Meeting of May 16, 2010

The Finance Committee met on April 19 with Lee Carter, Greg Cliburn, Jennie Crystle, Peggy Giltrow and Marcy Pompei in attendance. The meeting began with a brief period of silent worship.

The major work of the meeting was review of the internal audit report for financial year 2009 prepared by Lee and Marcy. We accepted the report and discussed and approved various recommendations. Greg and Lee will work on making sure that specific action items are taken care of. The audit may be viewed on the Meeting’s web site. Some topics will be discussed later and further recommendations made.

Other items of discussion included proposed wording for the use of the New Meetinghouse Fund, the Emergencies budget line item under Good Works, and the closure of the Meeting’s safe deposit box. Action on these continued after the meeting ended.

The Finance Committee wants to express its thanks to Jesse Bertron for his valuable contribution to the work of the committee over the past year. We will miss him as he departs Santa Fe upon his graduation from Saint John’s this May. We wish him the best, and hope that he will continue to keep in touch with Santa Fe Monthly Meeting.

The meeting ended with a short period of silence.

The Finance Committee agreed to the following Minute regarding wording about the purpose of the New Meetinghouse Fund to be submitted to Meeting for Worship with Attention to Business. If passed it will become part of the Finance Committee’s procedures manual:

The purpose of the “New Meetinghouse Fund”, established at the September 2008 Meeting for Worship for Business, is to provide necessary funding for all aspects of development of a new meetinghouse for Santa Fe Friends Meeting. This includes costs for land acquisition and maintenance of the Camino Lejo Land, or any other land proposed for a new meetinghouse, as well as actual building construction.

Business Meeting in March asked the Finance Committee and M&O to work together to develop proposed wording on guidelines for use of the Emergency line item. We have worked on the wording with the Good Works committee, and forwarded proposed guidelines to M&O. Unfortunately we did not get the materials to them until after their May 2nd monthly meeting.

The Meeting safe deposit box was closed on Monday, May 3. It had remained at Wells Fargo after the accounts were moved a number of years ago to Guadalupe Credit Union. Trying to pay for the safe deposit box this spring was a real tangle, and the Finance Committee agreed to close the box there. When contents were examined we discovered that the only unique items not duplicated elsewhere were three letters of conscience. These can be put with all the others. It seems that a safe deposit box is not needed at this time, although the question can be revisited later if necessary.

Respectfully submitted,
Peggy Giltrow, convener, for Finance Committee

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